Overview
- Nasdaq gave Fitell until March 30, 2026 to regain minimum bid price compliance, following a 1-for-16 share consolidation executed on September 23.
- Fitell confirmed an October 1–2 purchase of 216.8 million PUMP tokens for $1.5 million, its first direct allocation of the Pump.fun asset to its corporate treasury.
- This addition builds on a late-September buy of roughly 46,144 SOL for about $10 million under an up-to-$100 million financing facility largely dedicated to crypto acquisitions.
- The company says it will stake and deploy holdings into DeFi, options, and on-chain liquidity strategies, with SOL held in custody at BitGo and managed through institutional infrastructure.
- Shares fell after the announcements, including a 13.6% drop to $5.20 on October 2, as Fitell pursues a rebrand to Solana Australia Corporation and explores a dual ASX listing.